Aggarwal Rice And Ice Pvt Ltd Th Its Director v. State Bank Of Patiala Th Its Chief Manager

IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH

CWP-18397-2016 Date of decision: 06.09.2016 Aggarwal Rice and Ice Pvt. Ltd.

..... Petitioner

Versus

State Bank of Patiala ..... Respondent

CORAM:

HON'BLE MR. JUSTICE AJAY KUMAR MITTAL HON'BLE MR. JUSTICE RAMENDRA JAIN PRESENT: Mr. Aman Arora, Advocate for the petitioner. AJAY KUMAR MITTAL, J. (ORAL) 1.

The petitioner has approached this Court under Articles 226/227 of the Constitution of India, inter alia seeking a direction to respondent-Bank to honour One Time Settlement (OTS) as approved vide its email dated 29.03.2016 (Annexure P-4) under the Special OTS Scheme dated 09.02.2016 (Annexure P-1) and extend 6 weeks more time to deposit the entire outstanding amount along with interest. 2.

Learned counsel for the petitioner submits that since the petitioner has not been able to discharge 50% of the outstanding amount i.e. ` 55 lacs as stated on 05.09.2016, he prays for withdrawal of the instant petition, with liberty to the petitioner to approach the respondent-Bank so that the Bank may take a sympathetic view in the case of the petitioner. 3.

Dismissed as withdrawn. It shall, however, be open to the petitioner to take recourse to the remedies, as may be available to it, in accordance with law.

( AJAY KUMAR MITTAL ) JUDGE September 06, 2016 ( RAMENDRA JAIN ) rishu JUDGE Whether speaking/reasoned Yes/No Whether Reportable Yes/No Rishu Kataria 2016.09.08 11:54 I attest to the accuracy and authenticity of this document